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Risk Profiling of Organizations


Enterprise Risk Management (ERM) is one of the most talked about topics in risk management, yet surprisingly little of that buzz has turned into reality.  Why?  Simply because for the vast majority of organizations this conceptually appealing  idea is not operationally feasible.


The inspiration behind writing of the Risk Profiling of Organizations was the desire to enhance the utility of the conceptually-compelling, but operationally-incomplete ERM frameworks (most notably, the widely-cited COSO framework in the U.S and the AS/NZ ISO 31000: 2009, originally developed in Australia and New Zealand, but also widely used in the EU). With that in mind, we set out to sketch out a maximally all-inclusive, statistical methodology-focused means of objectively deriving ERM frameworks-demanded informational inputs. Furthermore, it was also our desire to bring forth non-traditional data sources that could nonetheless be used to quantify the often overlooked exposures. To make the potentially staggering analytical task manageable, our approach narrows the all-inclusive definition of "risk" to only those events that can exert a material impact on earnings of organizations, which is in keeping with our industry experience. All considered, Risk Profiing of Organizations details a step-by-step analytical process for systematically transforming available data into decision aiding, risk quantification knowledge, with the ultimate goal of operationalizing the aforementioned ERM frameworks.


Copyright 2009, 2014 Erudite Analytics.  Paperback, 331 pages.

Risk Profiling of Organizations

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